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KEY, 7 Medikov prospect: best use analysis and most effective option concept development

How we work

The team of IPG.Estate Research and Consulting Department has studied the commercial real estate market of St. Petersburg in general (and of Petrogradsky district in particular), has developed a concept of the most effective option of use of the industrial building of an area of 12,000 sq. metres at 7 Medikov Prospect.

Tasks

  • Analysis of hotel, retail, and office real estate segments of St. Petersburg in general (and of Petrogradsky district in particular)
  • Analysis of the local competition level;
  • Creation of a financial model of possible cash flows for the selected concept.

Decision

When implementing the project, the experts of IPG.Estate Research and Consulting Department has considered several options of the facility functional use. They have also analysed an possibility of implementing a hotel, an office centre, apartments and a multifunctional complex (office and trade functions) within the framework of the project, have calculated economic efficiency of each real estate format.

Taking into account architectural specificities of the building (significant depth indicators and difference in storeys height), a team of design engineers was involved in the project consideration.

Based on the obtained information, IPG.Estate's team has offered a concept of creation of an office complex (with a spacious parking on the ground floor) to the client.

Result

Key is at the stage of coordination of the developed project of an office centre in the Petrogradskaya Side.

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